Historical Perspective on Early Presidential Fundraising

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This July the first reports from 2016 presidential campaigns will be filed providing our first look at how candidates have been doing raising early money. As the information for 2015 becomes available, journalists and others my want to gain some perspective by looking at some information from the recent past.

Included here is information on early fundraising in past election cycles by candidate committees and by Super PACs in the 2011-2012.

Super PAC Activity in 2011

The candidate specific Super PAC was still very new as the 2012 Presidential campaign was beginning. At this time four years ago only two candidates had their Super PACs up and running.

President Obama’s Super PAC, Priorities USA Action, reported only $3.2 million in receipts through June 30, 2011, with an end of year total of only $4.4 million.

Mitt Romney’s Super PAC, Restore Our Future, was more prolific in 2011 raising $12.2 million by June 30th, and $30.2 million by the end of the year.

None of the other candidates in 2011 had active Super PACs before June 30th. Several were formed in the 2nd half of 2011, but the only other Super PAC to exceed $5 million in receipts in all of 2011 was Make Us Great Again ($5.5 million), which supported Rick Perry.

Total Super PAC fundraising for all Presidential candidates for all of 2011 was $48.4 million. Restore Our Future alone accounted for 62% of all Super PAC receipts in 2011.

Early Candidate Fundraising in Past Elections

In 2008 Presidential candidates jumped in early and there were a number of them raising large sums by June 30th. Hillary Clinton accumulated the highest amount of any candidate, raising $63.1 million. Barack Obama was close behind with $58.9 million.

In 2011, although President Obama did not officially launch his re-election until April, he raised $45.4 million by June 30th.

George W. Bush still holds the record for the top fundraising quarter in the year before the election, having raised $50.1 million in the third quarter of 2003.

Notable Strong Early Fundraisers Who Did not Win:

In 2007, Hillary Clinton led all candidates having raised over $63 million dollars by June 30th. President Obama, the eventual nominee, was close behind at $59 million.

Rudy Giuliani & Mitt Romney: As of June 30th, 2007 Giuliani ($34.2) and Romney ($44.4 million) had both outraised the eventual nominee John McCain ($24.7 million).

In 1996, Phil Gramm led all candidates as of June 30th with $17 million but ended up withdrawing from the race days before the New Hampshire primary.

For full cycle historical data on past presidential elections, visit the CFI website.

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PRACTICAL AND OBJECTIVE RESEARCH FOR DEMOCRACY

The Campaign Finance Institute is the nation’s pre-eminent think tank for objective, non-partisan research on money in politics in U.S. federal and state elections. CFI’s original work is published in scholarly journals as well as in forms regularly used by the media and policy making community. Statements made in its reports do not necessarily reflect the views of CFI's Trustees or financial supporters.